Company contacts Bongard Machines USA, www.bongard.us. Commission Brokers, Inc., www.commissionbrokers.com. Gauder s.a/Gauder Group. www.gaudergroup.com GoIndustry DoveBid, www.go-dove.com Gold Int’l Machinery Corp., www.goldmachinery.com Hariton Machinery Co., Inc., www.haritonmachinery.com Lloyd & Bouvier, Inc., www.lloydbouvier.com Machinery Int’l Corp., www. machyintl.com Mathiasen Machinery Inc., www.mathiasen-machinery.com Queins & Co. KG., www.queins.com Talladega Machinery & Supply Co., www.tmsco.com Urbano Associates, www.urbanoassociates.com Wire & Plastic Machinery Corp., www.wireandplastic.com Worth Steel & Machinery, Inc., www.worthsteel.com
Editor’s note Due to space limitations, this feature is continued online. Go to www.wirenet.org, click on “Wire Journal,” then “WJI Extra.” NOVEMBER 2010 | 53
FEATURE
• Get a quote for the removal and shipping from a recognized contractor (the Auctioneer will be able to advise) • View/inspect the equipment (if you can). Check the maintenance books and records. For a major piece, contact the original manufacturer to see if the machine has Paul Shoniker, GoIndustry any history. DoveBid. • Don’t leave bidding to the last minute. Experience the bidding system to get used to how it displays as this will give you time to consider. • If you win, prepare to collect your equipment in line with the auctioneer’s terms and conditions Shipping. The selling price almost never includes shipping as the auctioneer cannot know who the buyer or their location will be, so it would be an impossible task to include shipping. Is it five miles or 5,000 miles? The machine should be left in a safe position by the seller, i.e., electrically safe and drained of oils and fluids. Preparing the machine for transport, loading and then shipping is the responsibility of the buyer albeit recommended contractors are available from most auctioneers. In-person buying. The world becomes smaller every day. New global markets are opening all the time for both buying and selling. Fewer people travel to view equipment as we provide good descriptions and photos and the time it takes to hold a sale is significantly less than in the traditional formats. The other plus is a range of online marketing tools and media that extends our reach to new areas. Percentage lots sold. This depends on the economic cycles, but other factors include the quality of the equipment the quality of the seller (major OEM, etc.), which will also have an effect. Acting for many major corporations, our sell through by number at a typical sale is about 90% for any given event. The “unsolds” are either sold by private treaty after the sale or may be included in another event. We go into an auction expecting at least 95% of the value to be sold and the balance we deal with by whatever means are appropriate. Our 130-year heritage and our estimates of value mean are usually within 10% +/- of our expectation. There are days when you are surprised by a sudden rise in demand, which could be two companies needing a particular piece of equipment for them to quote on a contract. If the machine is the key to that contract, we have seen bidding that goes close to new prices. The flip side is that there can also be less-positive results, such as when the economic world shut down in 2008, and our buyers pool shrunk, reducing competition and prices. ■